Photo - Trade -Importation of chemical from China to Nigeria
23054

Trade -Importation of chemical from China to Nigeria - loan for business

Nigeria
Market: Real estate, Building
Stage of the project: Prototype or product is ready

Date of last change: 06.11.2017
Min amount of loan
$  2.000
Estimated yield
25 % a year
0
Total required
$ 9.800
Rating
equalizer 238 from 1000
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Idea

There is a demand gap for certain chemicals here in Nigeria

Current Status

We are in contact with the suppliers from China. Samples were sent to us from suppliers and the product samples were given to the different buyers. The products are accepted in the market and we are already having demand to supply.

Market

Nigeria has an affordable housing deficit of 17 million houses estimated at US$363 billion. This number is expected to increase by 2 million houses per year at the current population growth of 2.8% per year. This fact underscores the huge potential available in creating construction support.

Problem or Opportunity

We have situations where user of product are not able to work for lack of these chemicals and the few in the market are substandard.
The buyers are happy with samples and are willing to pay . As at yet, we have spoken to more than 150 manufactures who use the chemicals in their production. The sample were however, given to only the 30 top 10% percentile of product users for feed back.

Competitors

NNPC is the main competitor, but as a result of bad management and lack of modern equipment , the factory is down 9 months out of 12. The other competitors are people who use as product the pyrolysis of waste Tyre.

Advantages or differentiators

We have superior product with a certificate of analysis that meets the market demand. Our distribution channels are well organized . we have a distribution center in the heart of the real estate construction hub. Our competitors come from the mainland and usually it takes some time before the make deliveries because of the incessant traffic gridlocks.

Finance

For the first year, we expect to import 4 times from China to Nigeria.This would result in a gross sales of $164,000.

Loan terms

12 months

Interest rate, %

25

Type of pledge

Another

Pledge and assets

All asset debenture and Academic Certificate of the promoter

Business model

We have huge market that does not have availability of good products. Therefore, we sell a product at the same or higher prices with fast delivery and great services. As the company grows, we would expand into other states, invest in technology to make our customers see us and speed up customer-response time.

Solution (product or service)

The products are black and red Iron Oxide for onward sells to paving and concrete stone manufacturers

Risks

The likely risk to business are access to funds, change in government policies on importation, competition from other importers of quality products and Functional refining company in the country

Incubation/Acceleration programs accomplishment

I have attended seminars for entrepreneurs.I have also done some learning online through cousera
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Idea
Current Status
Market
Problem or Opportunity
Competitors
Advantages or differentiators
Finance
Financed earlier, $
Loan terms
Interest rate, %
Type of pledge
Pledge and assets
Business model
Solution (product or service)
Lead creditor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Product Video